Robeco Institutional Asset Management B.V.

New 13F: Q3 2026

Robeco Institutional Asset Management B.V. filed its 13F for the quarter ended Sep 30, 2026 on Oct 20, 2026: $39.8B in AI and semiconductor stocks; $2.2B bought and $2.1B sold against its previous quarter, at the quarter's prices.

trimmed Palo Alto Networks (PANW): -$217.6M at the quarter's price
added to Dell (DELL): +$181.7M at the quarter's price
trimmed Alphabet (GOOGL): -$179.1M at the quarter's price
added to Sandisk (SNDK): +$172.9M at the quarter's price
trimmed Arista Networks (ANET): -$164.2M at the quarter's price
trimmed TSMC (TSM): -$161.6M at the quarter's price
added to Meta Platforms (META): +$161.6M at the quarter's price
added to Salesforce (CRM): +$149.7M at the quarter's price
added to Fortinet (FTNT): +$143.4M at the quarter's price
added to Accenture (ACN): +$139.9M at the quarter's price

Robeco Institutional Asset Management B.V. declares $38.7B in 120 of the 230 AI and semiconductor companies tracked on Silicon Floor, as of Jun 30, 2026 (Form 13F): 47.6% of its $81.4B 13F portfolio. Largest positions: NVIDIA (0.11% of the company) and Alphabet (0.10% of the company). Over time: $38.7B in 120 of these companies for Q2 2026, against $6.3B in 95 for Q4 2019 (13F values as filed). From Mar 31, 2026 to Jun 30, 2026, it bought $3.6B and sold $2.1B of these stocks, at the quarter's prices: a net purchase of $1.5B; 7 new positions and 4 sold out.

Performance of its AI picks

The AI-stock portfolio Robeco Institutional Asset Management B.V. declared for Q2 2026 (Form 13F), held unchanged, returned +2.7% in Q3 2026 (SMH -7.1%), ranked 1055 of 1,785 active managers. Over the last 12 months, quarter after quarter: +29.5% (SMH +87.2%), ranked 614 of 1,360 active managers. Over three years, quarter after quarter: +149.5% (SMH +325.8%), ranked 348 of 784 active managers. Over five years, quarter after quarter: +172.0% (SMH +389.8%), ranked 177 of 535 active managers. Trades made during a quarter are not visible in 13F filings: this measures its declared picks, not the return of its funds.

Largest positions

NVIDIA (NVDA): $5.3B, 26.7M shares, 0.11% of the company, 6.6% of its portfolio (added this quarter); held since Q4 2019 or earlier
Alphabet (GOOGL): $4.5B, 12.6M shares, 0.10% of the company, 5.5% of its portfolio (added this quarter); held since Q4 2019 or earlier
Apple (AAPL): $4.3B, 14.7M shares, 0.10% of the company, 5.2% of its portfolio (added this quarter); held since Q4 2019 or earlier
Microsoft (MSFT): $2.8B, 7.4M shares, 0.10% of the company, 3.4% of its portfolio (added this quarter); held since Q4 2019 or earlier
Amazon (AMZN): $2.3B, 9.5M shares, 0.09% of the company, 2.8% of its portfolio (added this quarter); held since Q4 2019 or earlier
Broadcom (AVGO): $1.7B, 4.5M shares, 0.09% of the company, 2.1% of its portfolio (added this quarter); held since Q4 2019 or earlier
Applied Materials (AMAT): $1.4B, 2.0M shares, 0.25% of the company, 1.7% of its portfolio (added this quarter); held since Q4 2019 or earlier
Micron (MU): $1.2B, 1.0M shares, 0.09% of the company, 1.5% of its portfolio (added this quarter); held since Q4 2019 or earlier
Meta Platforms (META): $913.7M, 1.6M shares, 0.06% of the company, 1.1% of its portfolio (trimmed this quarter); held since Q4 2019 or earlier
KLA (KLAC): $808.9M, 2.7M shares, 0.21% of the company, 0.99% of its portfolio (trimmed this quarter); held since Q4 2019 or earlier
Lam Research (LRCX): $795.6M, 1.8M shares, 0.15% of the company, 0.98% of its portfolio (trimmed this quarter); held since Q4 2019 or earlier
Cummins (CMI): $688.0M, 964,675 shares, 0.70% of the company, 0.84% of its portfolio (added this quarter); held since Q4 2019 or earlier
Cisco (CSCO): $642.1M, 5.5M shares, 0.14% of the company, 0.79% of its portfolio (trimmed this quarter); held since Q4 2019 or earlier
Vertiv (VRT): $641.7M, 1.9M shares, 0.50% of the company, 0.79% of its portfolio (trimmed this quarter); held since Q2 2023
AMD (AMD): $635.0M, 1.1M shares, 0.07% of the company, 0.78% of its portfolio (added this quarter); held since Q4 2019 or earlier

By sector

Cloud & AI giants: $14.7B, 38% of its AI holdings, 6 companies
Chips & compute: $10.0B, 26% of its AI holdings, 19 companies
Equipment & test: $3.3B, 9% of its AI holdings, 8 companies
Power, electrical & cooling: $3.2B, 8% of its AI holdings, 26 companies
AI software: $2.6B, 7% of its AI holdings, 22 companies
Memory & storage: $1.9B, 5% of its AI holdings, 6 companies
Interconnect: $1.6B, 4% of its AI holdings, 7 companies
Servers & systems: $741.2M, 2% of its AI holdings, 8 companies
Optics: $304.8M, 1% of its AI holdings, 7 companies
Neoclouds & data centers: $243.0M, 1% of its AI holdings, 11 companies

Biggest changes this quarter

added to Cummins (CMI): +$362.7M at the quarter's price
added to Amazon (AMZN): +$251.5M at the quarter's price
added to Broadcom (AVGO): +$228.7M at the quarter's price
trimmed Western Digital (WDC): -$226.1M at the quarter's price
added to Intel (INTC): +$222.4M at the quarter's price
trimmed Qualcomm (QCOM): -$214.9M at the quarter's price
added to Texas Instruments (TXN): +$179.4M at the quarter's price
trimmed Arm Holdings (ARM): -$166.7M at the quarter's price
added to Teradyne (TER): +$149.7M at the quarter's price
added to Applied Materials (AMAT): +$148.8M at the quarter's price

Other holders of this size

NEW YORK STATE COMMON RETIREMENT FUND: $38.6B in 213 of these companies
Citadel: $39.3B in 213 of these companies
FIL Ltd: $38.2B in 127 of these companies
MANUFACTURERS LIFE INSURANCE COMPANY, THE: $40.3B in 209 of these companies
BAILLIE GIFFORD & CO: $38.1B in 60 of these companies
Allianz Asset Management GmbH: $40.7B in 161 of these companies
Aberdeen Group plc: $36.4B in 121 of these companies
Assenagon Asset Management S.A.: $40.9B in 152 of these companies

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